Does Facebook’s Algorithm Know Your Wealth or Income?

The major social media apps are gearing up for the Winter Olympics. Snapchat is launching an app that will allow TV networks globally to send parts of their live broadcast directly into their app. Click To Tweet

It’s one of those things that Facebook keeps close to the chest – how it determines a user’s profile. Through a recently released patent, Facebook is using your profile information to determine the type of person that you are and your lifestyle spending habits to better target ads to you. It’s one of the social media stories in the news this week.

Winter Olympics Expected to be Heavily Streamed Online

The major social media apps are gearing up for the Winter Olympics. Snapchat is launching an app that will allow TV networks globally to send parts of their live broadcast directly into their app. It is expected that Facebook will have live streams of the events and Twitter will have constant updates along with creative hashtags that will allow athletes or event to be explicitly followed. For instance, Olympic downhill skier, Lindsey Vonn’s flight was delayed to Korea, so she was able to join in on the hashtag, #ThingsLindseyDidntDo where users complimented her on failures she was never involved in such as failing to score the winning touchdown against the Eagles in Super Bowl LII. Since video and streaming growth is increasing exponentially year over year, this Olympics is expected to be one largest streamed events in its history.

Social Media “Stories” Format Slowly Becoming the Best Way to Keep Up with the Newest Info

First introduced by Snapchat in 2013 and adopted by Instagram in 2016 and WhatsApp in 2017, worldwide daily usage of stories between those three apps has grown to 450 million with teens being the highest segment of users who prefer the message style. The most popular company branded stories are ones that are promoting merchandising content. Finally, the most popular subjects that are stories are fitness, fashion, retail, technology, and airplanes.

New Facebook Algorithm Determines How Much You Earn from your Profile Info

A patent that Facebook filed for in 2016 was only revealed last week discusses an algorithm the platform developers have created that analyzes the information in your profile and determines how much you earn and how wealthy you are.   The algorithm intends to classify a user so that specialized advertising can be used to target that user. Among the components used to measure your wealth are age, homeownership, education level, the type of job that you do, and the city that you live in.

We know social media changes every day, so be sure to stay up to date with all of the latest trends by following Katie Wagner Social Media on Facebook.

 

Follow Chris Thompson:
Chris brings extensive experience in Google advertising and SEO to his work at KWSM. He has been working on digital advertising campaigns for businesses and organizations since 1992 and is both Google Adwords and Bing certified.Before joining the KWSM Team, Chris was a Senior SEM Manager at a national digital advertising firm, and has worked as a digital marketing consultant and as the online marketing manager at an e-commerce coffee company.Chris grew up in Ft. Lauderdale and moved to Atlanta in 2011. In his free time, he’s involved in animal rescue, has season tickets to the Fox Theater and enjoys golf and walking his Bullmastiff, Jasmine.